Indian shares opened on a positive note Tuesday as U.S. Treasury yields retreated, helping ease concerns around inflation and higher interest rates.
The benchmark BSE Sensex jumped 250 points, or half a percent, to 50,025 in early trade, while the broader NSE Nifty index was up 87 points, or 0.6 percent, at 14,823.
Railtel climbed 1.8 percent on reporting a 60 percent jump in Q3 net profit.
BHEL gained half a percent on securing its first ever overseas order for a grid- connected solar power project in Mauritius.
Banks were broadly higher ahead of a Supreme Court verdict on various pleas seeking an extension of the loan moratorium that was announced almost a year ago.
Axis Bank rose over 1 percent after revising interest rates on fixed deposits.
BPCL was marginally higher amid reports that the government is expecting the divestment of state-owned refiner to net the exchequer over Rs 80,000 crore.
BEML rallied 1 percent after the government received multiple expressions of interest for the privatization of the company.
Maruti Suzuki India advanced 1.1 percent on the price hike buzz.
Mahindra & Mahindra added 0.9 percent after it signed a contract with the Ministry of Defense for the supply of 1,300 Light Specialist Vehicles to the Indian Army.
KEC International jumped 3.6 percent. The company said it has secured new orders worth Rs 1,429 crore across its various businesses.
Market Analysis
Sensex Surges 250 Points; Nifty Climbs Above 14,800
2021-03-23 04:01:32
